British authorities are gradually tightening control over the cryptocurrency market.
They are paying particular attention to the interaction between the banking sector and blockchain companies. Nationwide Building Society was the latest bank in the kingdom to impose restrictions on customers wishing to purchase digital currencies.
The lending institution has significantly reduced the list of virtual currencies available for purchase. The restrictions are being imposed on the bank’s debit card holders.
The UK’s largest bank, HSBC, has banned its customers from buying cryptocurrencies with credit cards altogether.
Nationwide Building Society customers will be allowed to buy cryptocurrency for no more than 5,000 pounds per day. In addition, the financial giant will block any payments sent to the Binance exchange.
This decision was made under pressure from the FCA (Financial Conduct Authority).
The regulator periodically reminds about the risks of investing in digital currencies and urges Britons to refrain from investing in this instrument.